The appellant appealed a motion judge's decision denying it interest on a mortgage for allegedly contravening s. 6 of the Interest Act.
The Court of Appeal allowed the appeal, finding that s. 6 did not apply because the mortgage did not involve a sinking fund plan, blended payments, or an allowance of interest on stipulated repayments.
The court also rejected the respondent's argument that the appellant failed to prove its prime rate, finding the affidavit evidence sufficient.
Judgment was granted in favour of the appellant for $67,140.83.
